AFFIRM HOLDINGS (AFRM) Short Trade Setup and Analysis

27 окт.

AFFIRM HOLDINGS (AFRM) on the 15-minute timeframe:

Trade Summary

• Position: Short Trade
  
• Entry: $46.84
  
• Stop Loss: $48.47
  

Take Profit Targets:

• TP1: $44.84 (Hit)
  
• TP2: $41.59 (Hit)
  
• TP3: $38.34 (Pending)
  
• TP4: $36.33 (Pending)
  

Technical Analysis
The price action for AFRM has shown a steady downtrend in alignment with the bearish market sentiment. The position was initiated near the entry point of $46.84, with the Risological dotted trendline indicating a continuous bearish pressure, thus validating the short entry.

With TP1 and TP2 already achieved, the price is moving in line with the projected downtrend. The decreasing volume and proximity to the trailing targets suggest that there is further room for downside potential, aiming towards TP3 and TP4.

Market Insights
Volume: 5.59M (below the 30-day average of 9.08M), indicating moderate sell-off interest.

Key Levels:

Day’s Range: $40.63 - $42.47, which reflects a steady decline.

• 52-Week Range: $16.50 - $52.48, showing that the stock is approaching the lower side of its yearly range.
  
• Upcoming Earnings: In 12 days, which could further influence AFRM’s trend based on market expectations.
  

This technical setup aligns with the broader market indicators and the prevailing bearish momentum in AFRM. Further downside potential remains viable as the trend continues.